Financial Express (Holdings) Limited (“we”, “our”, “us” and derivatives) are committed to protecting and respecting your privacy. This Privacy Policy, together with our Terms of Use, sets out the basis on which any personal data that we collect from you, or that you provide to us, will be processed by us relating to your use of any of the below websites (“sites”).


For the purposes of the Data Protection Act 1998, the data controller is Trustnet Limited of 2nd Floor, Golden House, 30 Great Pulteney Street, London, W1F 9NN. Our nominated representative for the purpose of this Act is Kirsty Witter.


We collect information about you when you register with us or use any of our websites / services. Part of the registration process may include entering personal details & details of your investments.

We may collect information about your computer, including where available your operating system, browser version, domain name and IP address and details of the website that you came from, in order to improve this site.

You confirm that all information you supply is accurate.


In order to provide personalised services to and analyse site traffic, we may use a cookie file which is stored on your browser or the hard drive of your computer. Some of the cookies we use are essential for the sites to operate and may be used to deliver you different content, depending on the type of investor you are.

You can block cookies by activating the setting on your browser which allows you to refuse the setting of all or some cookies. However, if you use your browser settings to block all cookies (including essential cookies) you may not be able to access all or part of our sites. Unless you have adjusted your browser setting so that it will refuse cookies, our system will issue cookies as soon as you visit our sites.


We store and use information you provide as follows:

  • to present content effectively;
  • to provide you with information, products or services that you request from us or which may interest you, tailored to your specific interests, where you have consented to be contacted for such purposes;
  • to carry out our obligations arising from any contracts between you and us;
  • to enable you to participate in interactive features of our service, when you choose to do so;
  • to notify you about changes to our service;
  • to improve our content by tracking group information that describes the habits, usage, patterns and demographics of our customers.

We may also send you emails to provide information and keep you up to date with developments on our sites. It is our policy to have instructions on how to unsubscribe so that you will not receive any future e-mails. You can change your e-mail address at any time.

In order to provide support on the usage of our tools, our support team need access to all information provided in relation to the tool.

We will not disclose your name, email address or postal address or any data that could identify you to any third party without first receiving your permission.

However, you agree that we may disclose to any regulatory authority to which we are subject and to any investment exchange on which we may deal or to its related clearing house (or to investigators, inspectors or agents appointed by them), or to any person empowered to require such information by or under any legal enactment, any information they may request or require relating to you, or if relevant, any of your clients.

You agree that we may pass on information obtained under Money Laundering legislation as we consider necessary to comply with reporting requirements under such legislation.


We want to ensure that the personal information we hold about you is accurate and up to date. You may ask us to correct or remove information that is inaccurate.

You have the right under data protection legislation to access information held about you. If you wish to receive a copy of any personal information we hold, please write to us at 3rd Floor, Hollywood House, Church Street East, Woking, GU21 6HJ. Any access request may be subject to a fee of £10 to meet our costs in providing you with details of the information we hold about you.


The data that we collect from you may be transferred to, and stored at, a destination outside the European Economic Area (“EEA”). It may be processed by staff operating outside the EEA who work for us or for one of our suppliers. Such staff may be engaged in, amongst other things, the provision of support services. By submitting your personal data, you agree to this transfer, storing and processing. We will take all steps reasonably necessary, including the use of encryption, to ensure that your data is treated securely and in accordance with this privacy policy.

Unfortunately, the transmission of information via the internet is not completely secure. Although we will do our best to protect your personal data, we cannot guarantee the security of your data transmitted to our sites; any transmission is at your own risk. You will not hold us responsible for any breach of security unless we have been negligent or in wilful default.


Any changes we make to our privacy policy in the future will be posted on this page and, where appropriate, notified to you by e-mail.


Our sites contain links to other websites. If you follow a link to any of these websites, please note that these websites have their own privacy policies and that we do not accept any responsibility or liability for these policies. Please check these policies before you submit any personal data to these websites.


If you want more information or have any questions or comments relating to our privacy policy please email [email protected] in the first instance.

 Information  X 
Enter a valid email address


  Print      Mail a friend       Annual reports

Wednesday 19 October, 2011


Trading Statement

RNS Number : 4253Q
18 October 2011

SABMiller plc Trading Update


SABMiller plc today provides an update on trading during the six-months ended 30 September 2011.  The calculation of the growth rates in this update excludes the effects of acquisitions and disposals on volumes and revenues, unless otherwise stated. 


Lager volumes for the first six months were 3% ahead of the prior year.  Beer consumption continued to vary across markets with further healthy growth in Latin America and Africa and underlying weakness persisting in North America and Europe.  Growth slowed in the second quarter, in part reflecting stronger prior year comparatives, and some particularly poor weather in Europe and China in the current period.  Soft drinks volumes grew by 6% for the half year.  Volume growth combined with selective price increases and mix benefits increased group revenue by 6% and group revenue per hectolitre by 3% in constant currency.  Raw material costs rose moderately and investment in the group's brands and market facing capabilities was increased, which together with higher central costs constrained margins.  Overall, financial performance for the half year was in line with our expectations.


In Latin America, lager volumes grew 8%.  Colombia's lager volumes increased by 7% benefiting from improved trade execution and our strategy of price restraint, the cycling of the  February 2010 VAT increase and the impact of extreme weather conditions in the prior period.  In Peru lager volumes grew by 11%, underpinned by gains in beer market share, in part reflecting the successful repositioning of Pilsen Callao in the upper mainstream segment, and assisted by a buoyant economy.  Ecuador's lager volumes increased by 5%, with growth of 11% in the second quarter, following the roll-out of the direct service model into rural areas and the cycling of Sunday trade restrictions introduced in June 2010.  Double digit lager volume growth was achieved in both Honduras and El Salvador as a result of national introductions of bulk packs.  Soft drinks volumes in Latin America ended the first half 12% ahead of the prior year driven by stronger distribution of non-alcoholic malt drinks in Colombia and the recent launch of a non-alcoholic refreshing malt variant, Maltizz, and strong performance across our Central American markets.


Lager volumes in Europe were level with the prior year.  Beer markets were affected by the continuing fragile economic environment which further reduced consumer confidence and expenditure during the period.  Poland's volumes were down by 2%, impacted by weak consumer spending and continued significant competitor price reductions.  Phasing within the half year was affected by a low base in the first quarter of the prior year and heavy rains in the second quarter of the current year.  In the Czech Republic, domestic volumes declined by 1% in the half year, significantly impacted by heavy rain and cold weather in July tempered by continued good performance of brand and pack innovations in the convenience segment.  Volumes were up by 3% in Russia with growth in the first quarter, compared with a weak comparative period, partly offset by a decline in the second quarter reflecting an exceptionally hot summer in the prior year.  In Romania, a difficult economic environment and government austerity measures continued to impact consumer demand which, combined with intensified competition in pricing and marketing, drove volumes down by 8%.  Volume performance for Europe as a whole benefited from significant growth in Ukraine as well as continued positive performance in the United Kingdom.


In the six months ended 30 September 2011, MillerCoors domestic sales to retailers (STRs) were down by 2.3% in a market which continued to be impacted by high unemployment and subdued consumer spending.  In the second quarter, MillerCoors STRs were down 2.0% against the prior period.  Premium light volumes were down by low single digits in the quarter, with a mid single digit decline for Miller Lite being partially offset by growth in Coors Light. The Tenth and Blake crafts and imports division drove double digit growth, led by the continuing strength of Blue Moon and Leinenkugel's.  Below premium volumes were down mid single-digits.  Domestic sales to wholesalers (STWs) for the second quarter were down by 4.7% against the comparative period and for the half year were down 3.9%.  The STW decline in the first half was higher than the STR decline due to the timing of shipments in the prior year.


In Africa lager volumes for the six months grew by 15% with strong growth across the region.  Robust lager volume growth of 20% was delivered in Tanzania aided by strong growth of the local brand portfolio.  In Uganda, volumes grew by 23% driven by increased penetration in the west of the country and enhanced outlet branding and sales execution.  Zambia volumes ended 22% ahead of the prior year assisted by favourable economic conditions and a strong performance by the Castle brands.  Lager volumes in Mozambique grew by 11% driven by healthy growth of the mainstream portfolio.  In Ghana, strong economic conditions and improved availability resulted in lager volume growth of 54%.  Zimbabwe's lager volumes continued to benefit from capacity upgrades in the prior year and grew by 30%.  Our associate Castel delivered 11% lager volume growth with good performance in the Democratic Republic of Congo and Cameroon.  Soft drinks volumes grew by 10% with robust performances in Ghana and Zimbabwe.


Asia's lager volumes were up by 4% for the first half, but with the benefits of regional acquisitions in China were up by 9%, in absolute terms.  In China, lager volumes grew 5%, with double digit first quarter growth followed by a slight decline in the second quarter as a result of prolonged heavy rains in the Central region which limited consumer demand.  The second quarter cycled strong growth in the comparative quarter last year in which volumes grew by 16%.  In India, volumes declined by 7% with robust growth in September, following the lifting of trading restrictions in Andhra Pradesh, partially offsetting the impact of excise increases implemented across a number of key states at the beginning of the half year.


In South Africa, lager volumes were level in the first half year compared with the prior period in a market that declined slightly.  Although volumes benefited from an Easter peak in the first quarter, performance was impacted by weaker consumer demand and a higher base in the prior period reflecting the impact of the 2010 FIFA World Cup.  The portfolio continued to benefit from targeted investments in its core power brands as well as continuing improvements in retail execution and customer service. Castle Lite remained the top performer, growing strongly, while Castle Lager also made good gains, and the successful repositioning of Castle Milk Stout translated into solid growth.  Soft drinks volumes declined by 3% during the first half year, cycling strong growth in the second quarter of the prior year.  Volumes in the period were adversely affected by colder and wetter weather and consequent subdued consumer demand.





Notes to editors


SABMiller plc is one of the world's largest brewers with brewing interests and distribution agreements across six continents. The group's wide portfolio includes global brands Pilsner Urquell, Peroni Nastro Azzurro, Miller Genuine Draft and Grolsch, as well as leading local brands such as Aguila, Castle, Miller Lite, Snow and Tyskie.  SABMiller is also one of the world's largest bottlers of Coca-Cola products.


In the year ended 31 March 2011, the group reported US$4,491 million adjusted pre-tax profit and group revenue of US$28,311 million. SABMiller plc is listed on the London and Johannesburg stock exchanges.

This announcement is available on the company website:


High resolution images are available for the media to view and download free of charge from


Broadcast footage is available in internet or SD/HD quality for download free of charge from



SABMiller plc
t: +44 20 7659 0100

Sue Clark
Director Corporate Affairs
SABMiller plc
t: +44 20 7659 0184

Gary Leibowitz
Senior VP, Investor Relations
SABMiller plc
t: +44 20 7659 0174

Nigel Fairbrass
Head of Media Relations
SABMiller plc
t: +44 7799 894265


This announcement does not constitute an offer to sell or issue or the solicitation of an offer to buy or acquire securities of SABMiller plc (the "Company") or any of its affiliates in any jurisdiction or an inducement to enter into investment activity.


This announcement includes "forward-looking statements". These statements may contain the words "anticipate", "believe", "intend", "estimate", "expect" and words of similar meaning. All statements other than statements of historical facts included in this announcement, including, without limitation, those regarding the Company's financial position, business strategy, plans and objectives of management for future operations (including development plans and objectives relating to the Company's products and services) are forward-looking statements. These forward-looking statements involve known and unknown risks, uncertainties and other important factors that could cause the actual results, performance or achievements of the Company to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements. These forward-looking statements are based on numerous assumptions regarding the Company's present and future business strategies and the environment in which the Company will operate in the future. These forward-looking statements speak only as at the date of this announcement. The Company expressly disclaims any obligation or undertaking to disseminate any updates or revisions to any forward-looking statements contained in this announcement to reflect any change in the Company's expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based. Any information contained in this announcement on the price at which the Company's securities have been bought or sold in the past, or on the yield on such securities, should not be relied upon as a guide to future performance.

This information is provided by RNS
The company news service from the London Stock Exchange

a d v e r t i s e m e n t